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Bombay High Court Dismisses Petition Challenging Arbitral Award in Favor of Client Against Trading Member for Unauthorized Trades. Award of Rs.6,59,634.54 with interest upheld as not patently illegal under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, Angel Broking Private Limited, a trading member, challenged an arbitral award dated 29 August 2009 passed by a sole arbitrator appoint...

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Bombay High Court Dismisses Writ Petition Challenging Unconditional Stay of Arbitral Award Due to Stamp Duty Deficiency. Arbitration Agreement in Unstamped Member Client Agreement Held Void Ab Initio Under Maharashtra Stamp Act, 1958.

The petitioner, M/s. Anand Rathi Share & Stock Brokers Ltd., challenged an order passed by the District Judge-1, Amravati, which granted unconditional...

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High Court of Bombay Considers Interim Motions in Suit by Foreign Trustees for Recovery of Assets Allegedly Concealed in India. The Court Examines Whether Plaintiffs Have Made Out Prima Facie Case for Disclosure and Deposit Orders Based on US Bankruptcy Court Findings.

The suit was filed by ITC Ltd., acting as trustees in bankruptcy of Suresh Chitalia, Devang Chitalia, EST Fibres Inc., and Lokman Establishment, to re...

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Presidential Reference Made to Supreme Court Seeks Advisory Opinion on Telecom Licences and Spectrum Allocation Policies. Reference Under Article 143(1) Recites Historical Grant of Licences from 1994 to 2008 Including First-Come-First-Served and Revenue Share Regimes.

Background: The President of India made a reference under Article 143(1) of the Constitution on 12.04.2012, seeking the advisory opinion of the Suprem...

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Bombay High Court Allows Rejection of Plaint Against Directors in Commercial Suit -- No Cause of Action Against Nominee Director and Other Directors -- Corporate Personality Principle Upheld

The Bombay High Court allowed Notices of Motion filed by Defendant Nos. 3 to 8 seeking rejection of the Plaint -- The Plaintiff had sued Defendants an...

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High Court of Bombay Dismisses Petition Challenging Arbitral Award in Contract Dispute — Price Revision Upheld as Valid Modification. Letter dated 28 June 1999 held to have modified the terms of the Purchase Order, allowing recoveries and adjustments per letter dated 31 October 2000.

The petitioner, M/s. JCL International Ltd., entered into a contract with the respondent, Bharat Petroleum Corporation Ltd., on 1 May 1999 for the sup...